CIT
2.9 of 5 103 reviews
www.cit.com New York, NY 1000 to 5000 Employees

CIT Reviews

Updated Apr 2, 2014

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2.9 103 reviews

                             

81% Approve of the CEO

CIT Chairman and CEO John A. Thain

John A. Thain

(42 ratings)

42% of employees recommend this company to a friend
103 Employee Reviews
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Review Highlights

Pros:
  • "Good salaries and flexible work/life balance in general"
    in 10 reviews
  • "Good benefits package and reasonable work/life balance depending on role"
    in 12 reviews
Cons:
  • "Senior management is not in touch with all of the businesses"
    in 7 reviews
  • "this was once a good company but senior management team broke it and continue to drive this ship in the dirt with reckless abandon"
    in 4 reviews
  • Show more review highlights

Reviews

  • Culture & Values
         
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  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Approves of CEO

1 person found this helpful  

A wonderful onsite experience. A lot learned in a while.

Business Analyst (Current Employee)
Livingston, NJ

I have been working at CIT as a contractor for less than a year

ProsIts a going concern. Very good and knowledgeable senior management, always engaged in new business plans for the growth. Good work culture. Everyone comes up to table with innovative ideas participating in healthy brainstorming sessions.

ConsIT infrastructure is not bad but can be better with a little improvement.
More integration needed between the departments.

Advice to Senior Managementstart looking for employees on full time basis. As by the time contractors get equipped by the work , their contracts expires.
Look for more in-house application / software to reduce the licensing fee.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Assistant VP, Leveraged Finance, NYC

Assistant Vice President, Corp Finance (Former Employee)
New York, NY

I worked at CIT full-time for more than 5 years

ProsDecent people; collegial atmosphere. Reasonable if not very competitive salary.

ConsPoor morale, continues stream of layoffs. Horrible systems and work flows - not staffed or built to be a regulated bank. Little career advancement. Substandard pay vs. competition. Severe lack of leadership at many levels.

No, I would not recommend this company to a friend

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Extremely knowledgeable senior management, help you learn the mechanics

Corporate Finance Intern (Former Employee)
Livingston, NJ

I worked at CIT

ProsNice people, eager to help you learn the various aspects of financial reporting (Sarbanes- Oxley), TIC Reports, etc. Brief you on the weekly asset sales and help you prepare for the professional world.

ConsThe company went bankrupt recently and is under heavy surveillance from the regulators, so the bonus and salaries are below the industry average.

Yes, I would recommend this company to a friend

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1 person found this helpful  

Culture of disrespect by certain people in management makes it uncomfortable especially for new employees.

Anonymous Employee (Former Employee)
New York, NY

I worked at CIT

ProsPay, Location, Experience working for finance co. in NYC. Some nice colleagues.

ConsPoor onboarding procedures. HR not helpful. Technology always on the blink. IT dept in need of serious overhaul. Pray you get a respectful boss. Mine was hellish.

Advice to Senior ManagementManagement should take a look at the staff turnover in certain departments. There must be a reason why certain positions are vacated so frequently.

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Educational

Associate (Current Employee)
New York, NY

I have been working at CIT

ProsLocation. Benefits. People. Rewards. Perks.

ConsPay. Promotion. Business Development. Staffing.

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Quality of colleagues was good

Vice President (Current Employee)
Los Angeles, CA

I have been working at CIT

ProsOpportunity to standout if you work hard

ConsFormer leadership did not provide clear direction

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I am new but so far friendly, helpful and team oriented group. Poor technology is frustrating.

Vice President (Current Employee)
Livingston, NJ

I have been working at CIT

ProsStay in the financial arena without going to NYC. Pay is high. Company is a manageable size. People are professional.

ConsTechnology is very old which makes people jump through hoops. People are less sophisticated than at larger companies. Limited resources.

Advice to Senior ManagementInvest in infrastructure and you will have the information you need to run your business.

Yes, I would recommend this company to a friend

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ehhh

Anonymous Employee (Current Employee)
Cleveland, OH

I have been working at CIT

Prosgood pay & benefits, nice time off. employees get the attention they need. work hard and maybe you'll get promoted.

Conschances of getting promoted are slim. most of management is terrible. no water really knows whats going on. bonus is terrible.

Advice to Senior Managementdo better communicating with employees. tell the truth and be honest with your people. maybe even promote people more. that would be nice.

No, I would not recommend this company to a friend

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Company not sinking, but also going nowhere fast.

Rail Leasing Customer Service/Mechanical (Former Employee)
Chicago, IL

I worked at CIT

ProsGood location, entry-level compensation is adequate, management is generally personable and easy to get along with, excellent in-office systems & equipment, and a good amount of knowledge resides in the office.

ConsNo opportunity for advancement. Mid-level managers are exclusively grifted from GE or GATX; upper management (based in NYC) treats the rail division as a mere curiosity. Staff has limited knowledge of railcars outside of the mechanical group, and that group has been intentionally skeleton-ized and outsourced. (The finance group, on the other hand, is unnecessarily bloated) People with valuable industry knowledge & experience work here but middle management only rarely solicits opinions; decisions are always final, and often made without regard to feasibility and practicality.

Advice to Senior ManagementRemove current division management and begin the process of identifying (and fast-tracking) those within the group who have not only the knowledge of the industry, but a passion for it as well. Too many 401K-chasing managers work here who have the booksmarts, but no real motivation to make CIT a premier company in this industry. Company literature advertises CIT as being an industry leader in rail transportation finance, but from a customer's point of view they're probably #4 or 5, and dropping.

No, I would not recommend this company to a friend

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Lacking!

Customer Servie Representatitve (Current Employee)
Chicago, IL

I have been working at CIT

ProsFlexible scheduling, good staff, comfortable environment, well-located, decent pay

Conslittle/no room for advancement, little guidance and developement, poor competency amidst management, outdated or non-existent procedures

Advice to Senior ManagementEducation, advancement, and open-mindedness are all lacking

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